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I was told the same thing by a local AD in regards to my 1982 GMT, Rolex doesn't support products this old anymore. I guess they would rather sell you a new watch than repair their old ones. Don't know if that info varies by AD or if there is a cut-off date from Corp. Frankly you probably don't want them to do it anyway. They will charge you a fortune and replace any part that is not within current spec- this includes original dial and hands if they show any signs of age or "patina". I have read horror stories of people who send rare models to Rolex only to get them back "like new" including replacement dials and hands, polished cases and bracelets etc....hence killing any historical value.
I'm sure if you wait a day or two people here will chime in with recommendations for a good indipendant in the Chicago area. It should only cost around $150-300 for a service unless there are parts that are in need of replacement. Then just keep it on a schedule of every 5-10 years for service (replacing the crown and case seals as needed to keep it waterproof) and it should out-live you by a millennia.
Oh- and if you have any pictures of it, post them so we can get a better idea of what you're talking about.
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